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Financial Code - FIN - FIN § 14410
Financial Code - FIN - FIN § 14410
(a) (1) A member of the board of directors, supervisory committee, audit committee, or credit committee shall not receive compensation for that member’s services as a member of the board of directors, supervisory committee, audit committee, or credit committee, but the member may
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Financial Code - FIN - FIN § 14450
Financial Code - FIN - FIN § 14450
The credit union shall be directed by a board consisting of an odd number of directors, at least five in number, each of whom shall be a member of the credit union in his own right, to be elected by the members at their annual meeting.
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Financial Code - FIN - FIN § 14451
Financial Code - FIN - FIN § 14451
Directors may be elected for a term of three years or less. If directors are elected for terms in excess of one year their terms of office shall be staggered so that insofar as possible an equal number of such terms shall expire each year.
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Financial Code - FIN - FIN § 14452
Financial Code - FIN - FIN § 14452
The office of any director shall be declared vacant if such director is absent from three consecutive regular meetings of the board of directors unless excused therefrom.
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Financial Code - FIN - FIN § 14452.5
Financial Code - FIN - FIN § 14452.5
A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following: (a) A vacancy that exists due to the expiration of the term of a director shall be filled only by the members of a credit union. (b) If the boar
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Financial Code - FIN - FIN § 14453
Financial Code - FIN - FIN § 14453
The board of directors of every credit union shall have the general management of the affairs, funds, and records of the credit union. The board shall meet on a regular basis, not less than quarterly, as reasonably determined by the board. The board may appoint an executive commi
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Financial Code - FIN - FIN § 14454
Financial Code - FIN - FIN § 14454
The directors shall hold a meeting of all directors within 10 days after the annual meeting of members pursuant to Section 14804 for the purpose of electing the officers of the credit union as prescribed in Sections 14500 and 14501.
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Financial Code - FIN - FIN § 14456
Financial Code - FIN - FIN § 14456
Unless the bylaws expressly reserve any or all of the following duties to the members, the directors have all of the following special duties: (a) (1) To act upon all applications for membership. The directors may delegate the power to approve applications for new membership to e
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Financial Code - FIN - FIN § 145
Financial Code - FIN - FIN § 145
“Board” has the meaning set forth in Section 155 of the Corporations Code.
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Financial Code - FIN - FIN § 1450
Financial Code - FIN - FIN § 1450
Notice to any bank of an adverse claim (the person making the adverse claim being hereafter called “adverse claimant”) to a deposit standing on its books to the credit of or to personal property held for the account of any person shall be disregarded, and the bank, notwithstandin
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Financial Code - FIN - FIN § 14500
Financial Code - FIN - FIN § 14500
(a) The officers of every credit union shall include a chairman or president, one or more vice chairmen or vice presidents, a secretary and a treasurer or chief financial officer. (b) The officers of any credit union may include other officers with titles and duties specified in
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Financial Code - FIN - FIN § 14501
Financial Code - FIN - FIN § 14501
If the bylaws so provide, the directors may elect the same person as secretary and treasurer or chief financial officer.
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Financial Code - FIN - FIN § 14502
Financial Code - FIN - FIN § 14502
The powers and duties of the officers of any credit union required pursuant to subdivision (a) of Section 14500 are as prescribed in the bylaws.
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Financial Code - FIN - FIN § 1451
Financial Code - FIN - FIN § 1451
When the depositor of a commercial or savings account has authorized any person to make withdrawals from the account, the bank, in the absence of written notice otherwise, may assume that any check, receipt, or order of withdrawal drawn by such person in the authorized form or ma
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Financial Code - FIN - FIN § 1452
Financial Code - FIN - FIN § 1452
A bank need not recognize or give any effect to (1) any claim to a deposit of cash or securities standing on its books to the credit of, or held by it for the account of, any corporation, firm or association in occupied territory or (2) any advice, statute, rule or regulation pur
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Financial Code - FIN - FIN § 1455
Financial Code - FIN - FIN § 1455
Whenever a bank certifies a check, the amount thereof shall be immediately charged against the account of the drawer.
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Financial Code - FIN - FIN § 14550
Financial Code - FIN - FIN § 14550
Every credit union shall have a supervisory committee of at least three persons, provided that the number of members on the committee is an odd number, each of whom shall be a member of the credit union and elected by the members of the credit union. In the alternative, the board
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Financial Code - FIN - FIN § 14551
Financial Code - FIN - FIN § 14551
The supervisory committee may: (a) Suspend at any time by unanimous vote, at a meeting called for that purpose, the credit committee, or any member thereof, or the credit manager, or any member of the board of directors, or any officer. (b) By a majority vote call a meeting of th
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Financial Code - FIN - FIN § 14551.5
Financial Code - FIN - FIN § 14551.5
The supervisory committee shall be responsible for reviewing the credit union’s policies and control procedures to safeguard against fraud and self-dealing, and the supervisory committee shall exercise whatever efforts are necessary pursuant to Sections 14551 and 14553 to meet th
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Financial Code - FIN - FIN § 14552
Financial Code - FIN - FIN § 14552
The supervisory committee shall, within seven days after suspension of any or all members of the credit committee, or any member of the board of directors, or any other officer, cause notice of a special meeting to be given to the members to take such action regarding the suspens
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Financial Code - FIN - FIN § 14553
Financial Code - FIN - FIN § 14553
(a) The supervisory committee shall at least once each year make or cause to be made an audit of the books and records and an examination of the business and affairs of the credit union. The supervisory committee shall make a full report of the assets and liabilities, receipts an
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Financial Code - FIN - FIN § 14554
Financial Code - FIN - FIN § 14554
No member of the supervisory committee shall serve as a member of the credit committee, as the credit manager, as a member of the board of directors, or as an employee of the credit union.
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Financial Code - FIN - FIN § 14555
Financial Code - FIN - FIN § 14555
The commissioner may, after investigation and finding that the supervisory committee is not performing in conformance with this article, declare all offices of the supervisory committee of a credit union vacant and shall direct the board of directors of the credit union to call a
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Financial Code - FIN - FIN § 14556
Financial Code - FIN - FIN § 14556
(a) The board of directors may, by resolution, establish an audit committee in lieu of a supervisory committee. An audit committee that meets all the requirements of this section shall be deemed to satisfy the requirements for a supervisory committee set forth in Sections 14550 t
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Financial Code - FIN - FIN § 1456
Financial Code - FIN - FIN § 1456
It shall be unlawful for any officer or employee of a bank to certify any check drawn upon such bank, unless the drawer has on deposit with the bank, at the time such check is certified, an amount to his credit on the books of the bank not less than the amount specified therein.